Advisors Asset Management Inc. Sells 4,267 Shares of Alamo Group, Inc. $ALG

Key Points

• Advisors Asset Management Inc. reduced its stake in Alamo Group, Inc. by 63.3% during the first quarter, now holding 2,470 shares valued at $440,000.
• CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group at $222.19 each, resulting in a 6.11% decrease in his ownership.
• Alamo Group's quarterly earnings report showed an EPS of $2.57, falling short of analyst estimates, while revenue reached $419.07 million, exceeding expectations.

Advisors Asset Management Inc. reduced its holdings in Alamo Group, Inc. (NYSE:ALG - Free Report) by 63.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,470 shares of the industrial products company's stock after selling 4,267 shares during the period. Advisors Asset Management Inc.'s holdings in Alamo Group were worth $440,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after buying an additional 61 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Alamo Group by 31.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company's stock worth $49,000 after purchasing an additional 65 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after purchasing an additional 72 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Alamo Group by 4.1% during the 1st quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company's stock worth $448,000 after purchasing an additional 100 shares in the last quarter. Finally, Heritage Family Offices LLP grew its holdings in shares of Alamo Group by 8.3% during the 1st quarter. Heritage Family Offices LLP now owns 1,358 shares of the industrial products company's stock worth $242,000 after purchasing an additional 104 shares in the last quarter. 92.36% of the stock is owned by institutional investors.

Alamo Group Price Performance

Alamo Group stock traded down $5.21 on Friday, reaching $206.05. The company's stock had a trading volume of 77,310 shares, compared to its average volume of 67,409. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.10 and a beta of 1.10. The business's fifty day moving average price is $218.30 and its 200 day moving average price is $199.87. Alamo Group, Inc. has a twelve month low of $157.07 and a twelve month high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). The business had revenue of $419.07 million during the quarter, compared to analyst estimates of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. Equities analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Alamo Group's payout ratio is currently 12.22%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Robert W. Baird raised Alamo Group from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $209.00 to $260.00 in a report on Monday, August 4th. Wall Street Zen raised Alamo Group from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $225.00 price target on shares of Alamo Group in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Alamo Group presently has a consensus rating of "Buy" and a consensus target price of $234.00.

Insider Buying and Selling

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total value of $555,475.00. Following the transaction, the chief executive officer owned 38,413 shares of the company's stock, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.18% of the company's stock.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor - and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.